A square with side length 1 is rotated about one vertex by an angle of $\alpha,$ where $0^\circ < \alpha < 90^\circ$ and $\cos \alpha = \frac{4}{5}.$  Find the area of the shaded region that is common to both squares.

[asy]
unitsize(3 cm);

pair A, B, C, D, Bp, Cp, Dp, P;

A = (0,0);
B = (-1,0);
C = (-1,-1);
D = (0,-1);
Bp = rotate(aCos(4/5))*(B);
Cp = rotate(aCos(4/5))*(C);
Dp = rotate(aCos(4/5))*(D);
P = extension(C,D,Bp,Cp);

fill(A--Bp--P--D--cycle,gray(0.7));
draw(A--B---C--D--cycle);
draw(A--Bp--Cp--Dp--cycle);

label("$\alpha$", A + (-0.25,-0.1));
[/asy]
Solution: Let the squares be $ABCD$ and $AB'C'D',$ as shown.  Let $P$ be the intersection of $\overline{CD}$ and $\overline{B'C'}.$

[asy]
unitsize(3 cm);

pair A, B, C, D, Bp, Cp, Dp, P;

A = (0,0);
B = (-1,0);
C = (-1,-1);
D = (0,-1);
Bp = rotate(aCos(4/5))*(B);
Cp = rotate(aCos(4/5))*(C);
Dp = rotate(aCos(4/5))*(D);
P = extension(C,D,Bp,Cp);

fill(A--Bp--P--D--cycle,gray(0.7));
draw(A--B---C--D--cycle);
draw(A--Bp--Cp--Dp--cycle);
draw(A--P);

label("$\alpha$", A + (-0.25,-0.1));
label("$A$", A, NE);
label("$B$", B, NW);
label("$C$", C, SW);
label("$D$", D, SE);
label("$B'$", Bp, W);
label("$C'$", Cp, S);
label("$D'$", Dp, E);
label("$P$", P, SW);
[/asy]

Then $\angle B'AD = 90^\circ - \alpha,$ and by symmetry, $\angle B'AP = \angle DAP = \frac{90^\circ - \alpha}{2} = 45^\circ - \frac{\alpha}{2}.$  Then
\[B'P = \tan \left( 45^\circ - \frac{\alpha}{2} \right) = \frac{\tan 45^\circ - \tan \frac{\alpha}{2}}{1 + \tan 45^\circ \tan \frac{\alpha}{2}} = \frac{1 - \tan \frac{\alpha}{2}}{1 + \tan \frac{\alpha}{2}}.\]Since $\alpha$ is acute,
\[\sin \alpha = \sqrt{1 - \cos^2 \alpha} = \sqrt{1 - \left( \frac{4}{5} \right)^2} = \frac{3}{5},\]so
\[\tan \frac{\alpha}{2} = \frac{\sin \alpha}{1 + \cos \alpha} = \frac{3/5}{1 + 4/5} = \frac{1}{3}.\]Then
\[BP = \frac{1 - 1/3}{1 + 1/3} = \frac{1}{2},\]so $[AB'P] = \frac{1}{2} \cdot \frac{1}{2} \cdot 1 = \frac{1}{4}.$  Also, $[ADP] = \frac{1}{4},$ so the area of the shaded region is $\boxed{\frac{1}{2}}.$